• Title/Summary/Keyword: Growth behavior

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Impacts of Increasing Volatility of Profitability on Investment Behavior (수익변동성 확대와 설비투자 위축)

  • LIM, Kyung-Mook
    • KDI Journal of Economic Policy
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    • v.30 no.1
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    • pp.1-31
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    • 2008
  • Various opinions have been suggested to explain the slump in equipment investment, such as increased government regulations, shareholder-oriented management by expanded foreign equity investment, response against M&A threats, conservative investment trends seen after a series of bankruptcy of large conglomerates (amidst crumbling myth of "Too Big to Fail"), and financial restructuring. Some also argued that the increased uncertainty in business environment is mainly responsible for conservative management, though there are few domestic studies made regarding the situation. But, in other countries, including the U.S., studies have shown that more volatility is seen now surrounding stock prices, profitability, and sales growth rate reflecting business performance. Also, there are other studies showing such expanded volatility have led to conservative management by businesses. In this regard, this study reviews the volatility conditions of business performance of Korean companies based on profitability, and then attempts to analyze the impact on investment brought on by increased volatility. Each company's profitability volatility used here is from the standard deviation of companies for the past five years. As a profitability indicator, the ROA (= operating profit/total asset) is used. According to the analysis, profitability volatility has remarkably increased from the mid 3% in 1994 to low 5% in 2005. Profitability volatility of the Korean companies has expanded to a great extent since the financial crisis. The crisis might have served to raise the volatility in the macroeconomic conditions. If increased volatility observed during the economic crisis had gradually declined after the crisis, the situation could be interpreted as a temporary phenomenon, not to be too concerned over. But, this was not the case for Korea. The volatility level, after the crisis, has not dropped back to its pre-crisis level. Hence, in the Korea's case, high volatility cannot be explained by the impact of financial crisis. Not only that, the fact that such expansion is seen in every industrial sector indicates that this phenomenon cannot be explained by the composition change of industries alone. An undergoing study shows that with a rapid spread of globalization, industries fiercely competing with China experience more volatility. Such increased volatility tends to contract investment, and since the crisis the impact of volatility on investment has slightly increased. It is noteworthy that this study only includes a part of 'uncertainty' that could be measured statistically. For instance, the profitability volatility indicator used in this study is unable to reflect all the effects that the tacit reduction of protection by the government or regulations might have made. So, the result here also indicates that other 'uncertain' factors not mentioned in this study may have served to contract investment sentiment. It would be impossible for policies to completely remove uncertainties measured by profitability volatility, but at least it is necessary to put effort to reduce the macroeconomic volatility in the future economic management. Stabilized macroeconomic management may not be enough to diminish all volatility that occurs within each company, but it would make a meaningful contribution in encouraging investment.

An Analysis on the Critical Startup Success Factors in Small-Sized Venture Businesses (중소·벤처기업의 창업 성공요인에 대한 상대적 중요도 분석)

  • Lee, Seol-Bin
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.12 no.3
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    • pp.53-63
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    • 2017
  • With increasing the importance of venture startup in the national economy, a trend shows that the government's policy support for venture startup is not only strengthened, but also entrepreneurial enthusiasm is increasing. In order for this trend to continue as an ongoing phenomenon, not a temporary phenomenon, venture startups should continue to grow with survival competitiveness. In this respect, there is a time when it is necessary to study the factors affecting the success of venture startups more than ever. There is a limit to seeing main factors, which affect the entry into the growth stage with survival competitiveness for the success of venture startups, as only 'entrepreneur capacity' and 'differentiation strategy' claimed by existing previous studies. As a more fundamental factor, entrepreneurial behavior is important in terms of opportunity discovery and opportunity utilization, but research into this falls short of expectations. This study is intended to look into success factors of venture startup. To achieve this, a survey was empirically carried out to CEOs in 100 small and medium venture startups through AHP analysis. The results are as follows. As stated above, entrepreneurship of success factors in venture startups is considered most critical, followed by innovation, economics, and technology. And 'entrepreneur's competency', 'positive entrepreneurial motivation', 'creative technology utilization', and 'continuous investment in technical development' are considered most critical for 'entrepreneurship', 'innovation', 'technology', and 'economics' as sub-factors, respectively. Consequently, entrepreneur's entrepreneurship that has been required in general startups is a critical factor to be also in common required in venture startups. This means that they can secure the competitiveness of venture startup along with continuous investment support in business startup with a positive mindset and their own technological competence as innovators to overcome the risk and uncertainty of business startup as entrepreneurship that marks the start of a new enterprise.

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Physiological Ecology of parasitic Dinoflagellate Amoebophrya and Harmful Algal Blooms (기생성 와편모류 Amoebophrya의 생리 생태적 특성과 적조)

  • 박명길
    • The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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    • v.7 no.3
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    • pp.181-194
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    • 2002
  • Parasitism is a one-sided relationship between two organisms in which one benefits at the expense of the other. Parasitic dinoflagellates, particularly species of Amoebophrya, have long been thought to be a potential biological agent for controlling harmful algal bloom(HAB). Amoebophrya infections have been reported for over 40 species representing more than 24 dinoflagellate genera including a few toxic species. Parasitic dinoflagellates Amoebophrya spp. have a relatively simple life cycle consisting of an infective dispersal stage (dinospore), an intracellular growth stage(trophont), and an extracellular reproductive stage(vermiform). Biology of dinospores such as infectivity, survival, and ability to successfully infect host cells differs among dinoflagellate host-parasite systems. There are growing reports that Amoebophrya spp.(previously, collectively known as Amoebophrya ceratii) exhibit the strong host specificity and would be a species complex composed of several host-specific taxa, based on the marked differences in host-parasite biology, cross infection, and molecular genetic data. Dinoflagellates become reproductively incompetent and are eventually killed by the parasite once infected. During the infection cycle of the parasite, the infected host exhibits ecophysiologically different patterns from those of uninfected host in various ways. Photosynthetic performance in autotrophic dinoflagellates can be significantly altered following infection by parasitic dinoflagellate Amoebophrya, with the magnitude of the effects over the infection cycle of the parasite depending on the site of infection. Parasitism by the parasitic dinoflagellate Amoebophrya could have significant impacts on host behavior such as diel vertical migration. Parasitic dinoflagellates may not only stimulate rapid cycling of dissolved organic materials and/or trace metals but also would repackage the relatively large sized host biomass into a number of smaller dinospores, thereby leading to better retention of host's material and energy within the microbial loop. To better understand the roles of parasites in plankton ecology and harmful algal dynamics, further research on a variety of dinoflagellate host-parasite systems is needed.

STUDIES ON THE CYSTINE COMPONENT IN THE SERICULTURAL PROTEINS OF BOMBYX MORI L. (가잠사단백질의 각과정에서의 Cystine 성분에 대한 연구)

  • Choe, Byong-Hee
    • Journal of Sericultural and Entomological Science
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    • v.2
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    • pp.1-31
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    • 1962
  • The purpose of this treatise is to prove the presence of cystine in silk fiber through wide sampling throughout all the sericultural processes of Bombyx mori.; also to show that disulfide cross linkages exist in the silk fiber. The conclusions reached were as follows: 1. Crystalline cystine was obtained from silk fibroin using Folin's Method. 2. Analytical data showing the cystine content of silk fiber and its related materials were obtained using Sullvan's Method as follows: Material Percent Cystine A. Mulberry leaf protein 0.175 B. Silkworm egg 0.33 C. Silkworm Body, matured, fat extracted, without silk gland 0.41 D. Silk gland, matured 1.23 E. Silkworm feces none F. Silkworm pupa, fat extracted 0.30 G. Silkworm moth, fat extracted 0.60 H. Raw Silk 0.22 I. Fibroin 0.175 J. Sericin 0.30 3. The presence of cystine in the silkworm was substantiated the existence of 0.175 % methionine in mulberry leaves and 0.12% methionine in the silk gland. 4. Part of the sulfhydryl compounds in the silk gland is believed to transfer to serine and methionine, with the former being secreted into the liquid silk finally as silk fiber and the latter used for nutritive purposes in the growing of silk gland tissue. 5. The cystine content is variable by mulberry species, silkworm species, sex, breeding process, and other culturing environments. 6. Hybrid silkworms require more nutritive amino acids for effective growth than the original parents, and secrete less of them as silk fiber. 7. From such an observation, the amino acid composition of silk fiber is believed to be fairly flexible. Cystine if included in the amorphous part of the fiber, especially in sericin. 8. The result from enriching the silkworm diet with pure cystine or wool cystine did not result in any advantage, therefore it is believed that the natural cystine and methionine contents in the mulberry leafaregoodenoughforsilkwormnutrition. 9. The disulfide cross linkage in silk fiber was verified by using the Harris Method. Contraction took place following the treatment of the fiber with various salts and acids. Comparisons were made with wool fiber. 10. During these experiments, the fibrious structure of silk fiber and the net-globular liquid form were photographed microscopically. It is believed that the globules of liquid silk are net-formed by the inter attraction of the OH ion of the globular peptide and the H ion of water as shown by the hair cracking behavior of the film. The net-globular protein precipitation from the mulberry protein solution showed that mulberry is a proper diet for the formation of fibrous protein in the silk fiber. 11. The significance of the presence of cystine in silk fiber as emphasized in this paper should result in modification of the general conception that cystine is absent from this fiber. NOTICE: A part of this treatise was presented at the annual Korea Sericultural Society meeting held in 1961.

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Use of Sprinkler System for Control of the Pine Needle Gall Midge, Thecodiplosis japonensis Uchida et Inouye (분무장치(噴霧裝置)를 이용(利用)한 솔잎혹파리 방제(防除)에 관(關)한 연구(硏究))

  • Chung, Sang Bae;Kim, Chul Su
    • Journal of Korean Society of Forest Science
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    • v.83 no.3
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    • pp.311-321
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    • 1994
  • Experiments were conducted to evaluate the efficacy of ground and foliar sprinkling of natural water for control of the pine needle gall midge, Thecodiplosis japonensis, by disturbing the reproductive behavior of adults such as copulation and oviposition. Diurnal ground spray for whole area application and foliar spray for single tree treatment were tested at day time during the period of adult emergence. The results obtained are as follows : 1. The population density of overwintering larvae in soil was not affected by the water spray during the adult emergence period. 2. Spraying the water showed no effect on the whole period and number of adult emergence, but retarded early emergence and facilitated Late emergence. The difference in the emerging time by 50% emergence day was approximately 7 days. 3. Ground spray was significantly different from control in gall formation rates but was not sufficient for effective control. As a single-tree treatment, the foliar spray was found to be highly effective for control of the pine needle gall midge, Average gall formation of spray plots and untreated ones were 2.6% and 38%, respectively ; control value exceeded 90%. 4. Ground spray of water was not effective in reducing larvae in gall of needle. Foliar spray, however, reduced 45% of larval numbers. 5. Foliar spray accelerated shoot growth by 15%-18%. 6. Foliar spray was highly effective for the control of sucking insects, such as mites and aphids on pine trees.

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Fluid Inclusions Trapped in Tourmaline from the Daeyou Pegmatite Deposit, Jangsu-Gun, Jeollabukdo (전북 장수군 대유 페그마타이트광산의 전기석에 포획된 유체포유물)

  • Lee, Ju-Youn;Eom, Young-Bo;Nam, Bok-Hyun;Hwang, Byoung-Hoon;Yang, Kyoung-Hee
    • Journal of the Mineralogical Society of Korea
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    • v.20 no.1 s.51
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    • pp.7-19
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    • 2007
  • Four types of fluid inclusions are trapped within tourmaline from Daeyou pegmatite, Jangsu-Gun, Jeonllabukdo. They range $5{\sim}100\;{\mu}m$ in size and are grouped into I, II, III, and IV based on the phase behavior at the room temperature: (1) Type I inclusions are liquid-rich and NaCl equivalent salinity ranged $0{\sim}12\;wt%$, and the homogenization temperatures (Th) ranged $181{\sim}230^{\circ}C$ with eutectic temperatures (Te) $-54{\sim}-22^{\circ}C$. (2) Type II inclusions are vapor-rich and salinity ranged $3{\sim}8\;wt%$ NaCl, and Th ranged $177{\sim}304^{\circ}C$ also showing Te $-54{\sim}-29^{\circ}C$. (3) Type III inclusions contain a halite daughter mineral with $31{\sim}40\;wt%$ NaCl, Th $230{\sim}328^{\circ}C$. More than 90% of Type III homogenize by halite dissolution and are spatially associated with silicate melt inclusions. (4) Type IV inclusions are $CO_{2}$-bearing containing various daughter minerals such as sylvite and/or halite. The density of $CO_{2}$ system within the Type IV is $0.80{\sim}0.75\;g/cm^{3}$, Th $190{\sim}317^{\circ}C$, and salinity $2{\sim}35\;wt%$ NaCl. Type III fluid inclusions, considered as the earliest fluid, formed from the fluid exsolved from the crystallizing pegmatite. It is suggested that Type II fluid in the central part of tourmaline were exsolved earlier than Type I fluids in the margin indicating salinity fluctuation during the growth of tourmaline. It implies the fluctuation of the pressure since the salinity of fluid exsolved from the crystallizing melt is governed by the pressure. The last fluid was Type IV, which may be derived from the nearby limestone and metasedimentary rocks. It is suggested that Daeyou pegmatite containing muscovite without miarolitic cavities was formed by the partial melting resulted from the regional metamorphism. Subsequently, the exsolving fluids from the crystallizing melt were trapped in tourmaline at high pressure condition. The exsolved fluids contain various components such as $CaCl_{2}\;and\;MgCl_{2}$ as well as NaCl and KCl. The exsolution began at least at $2.7{\sim}5.3\;kbar\;and\;230{\sim}328^{\circ}C$ with the pressure fluctuation.

The effects of microplastics on marine ecosystem and future research directions (미세플라스틱의 해양 생태계에 대한 영향과 향후 연구 방향)

  • Kim, Kanghee;Hwang, Junghye;Choi, Jin Soo;Heo, Yunwi;Park, June-Woo
    • Korean Journal of Environmental Biology
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    • v.37 no.4
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    • pp.625-639
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    • 2019
  • Microplastics are one of the substances threatening the marine ecosystem. Here, we summarize the status of research on the effect of microplastics on marine life and suggest future research directions. Microplastics are synthetic polymeric compounds smaller than 5 mm and these materials released into the environment are not only physically small but do not decompose over time. Thus, they accumulate extensively on land, from the coast to the sea, and from the surface to the deep sea. Microplastic can be ingested and accumulated in marine life. Furthermore, the elution of chemicals added to plastic represents another risk. Microplastics accumulated in the ocean affect the growth, development, behavior, reproduction, and death of marine life. However, the properties of microplastics vary widely in size, material, shape, and other aspects and toxicity tests conducted on several properties of microplastics cannot represent the hazards of all other microplastics. It is necessary to evaluate the risks according to the types of microplastic, but due to their variety and the lack of uniformity in research results, it is difficult to compare and analyze the results of previous studies. Therefore, it is necessary to derive a standard test method to estimate the biological risk from different types of microplastics. In addition, while most of the previous studies were conducted mostly on spheres for the convenience of the experiments, they do not properly reflect the reality that fibers and fragments are the main forms of microplastics in the marine environment and in fish and shellfish. Furthermore, studies have been conducted on additives and POPs (persistent organic pollutants) in plastics, but little is known about their toxic effects on the body. The effects of microplastics on the marine ecosystems and humans could be identified in more detail if standard testing methods are developed, microplastics in the form of fibers and fragments rather than spheres are tested, and additives and POPs are analyzed. These investigations will allow us to identify the impact of microplastics on marine ecosystems and humans in more detail.

Music Activities for Facilitation of Developmental Domains for Children from Age Three to Six (3-6세 유아의 영역별 발달 촉진을 위한 단계별 음악치료교육 활동 연구)

  • Lee, Su yeon
    • Journal of Music and Human Behavior
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    • v.3 no.1
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    • pp.29-62
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    • 2006
  • The early development of an infant is crucial due to the enormous impact it has throughout an infant's life. Therefore, it is important to understand the development process of an infant and provide a high-quality educational environment so that an infant can progress at an innate pace to learn how to exercise, understand, speak, socialize, and empathize as well as having a balanced growth. When educating an infant, joy is a substantial factor in the formation of trust and development of relationship that makes education efficient. Music can be an effective means to offer a fun atmosphere vto the infant in which it stimulates active participation of the infant and development of a variety of dimensions to the infant's development. Also, the purpose of music therapy education is utilizes to plan for the different age groups' level of understanding of music and allow the infant to have a positive experience and develop properly. The purposes of this study are as following: to examine characteristics according to an infant' developmental steps thoroughly, to suggest interventions using music therapy education to stimulate development of an infant, to prove that infants age 3 to 6 obtain the necessary ability and skill through the effective educational therapy through music, and finally to create a music program for educating infants or music therapy. This study has examined theories of the music approach targeting infants age 3 to 6 and made character observations of infant' Motor, Cognition, Communication, Socialization, and Emotions. With the basis of the above theory, the different levels of development has been divided, specific goals has been set up according to the levels, and various music therapy education for infants have been created. The music therapy education activity has been approved by five professionals who are renown in their specific field. They made comments that the development levels were properly divided in the paper. They also commented that the music program is adequate for achieving the goal of each developmental level and it stimulates the different levels of an infant's development. In conclusion, the study reflects that the approach of music therapy education stimulates the different levels of infant development. Music therapists can utilize this music program to help handicapped children identify characteristics of progress and develop at their own ability.

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A Local Governments' Preferences in Selecting Modern Eight Scenic Landscapes (지자체가 선정한 현대팔경에 나타난 경관 선호 양상)

  • So, Hyun-Su
    • Journal of the Korean Institute of Traditional Landscape Architecture
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    • v.38 no.1
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    • pp.92-102
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    • 2020
  • The followings are the landscape preference aspects from the 816 landscapes(景, Kyung), which comprise the 78 modern Palkyungs, presented by the 78 local governments in Korea. First, the natural environment elements selected as Kyung(景), which are topographical landscapes, mostly consist of mountain elements such as mountains, terrace(臺), rocks and stones and water elements classified as rivers, oceans, and lakes. Natural elements also include old-growth and giant trees such as pines, ginkgos, Japanese cornels and fringe trees, tree-lined streets and forests, and plant elements such as azaleas, rhododendrons, lotuses, reeds, and silver grasses which provide seasonal landscapes. Second, more than half of Kyung, selected as human environment elements, are historical and cultural heritages such as graveyards, mountain fortresses, town fortresses, traditional villages, pavilion in villas, and temples. And it is followed by leisure tourism facilities such as traditional markets, exhibition halls, theme parks, beaches, and food streets, green-based structures such as trails, plazas, parks, and botanical gardens, and industrial heritages such as ranches, abandoned coal mines, stations, ports and bridges. Third, modern Palkyungs include objects not related to the views such as local representative facilities, regional products, and festivals. Fourth, although most of the modern Palkyungs consist of eight, some include 20, 38, or 100 in order to increase the number of objects of public relations. Fifth, a certain local government makes two modern Palkyungs with different subjects by introducing traditional Palkyung and modern Palkyung altogether. In this case, it presents several modern Palkyungs like by selecting Palkyungs in a limited area. Furthermore, one Palkyung includes numerous place names at a time in some cases. Sixth, Sosangjeonhyeong(瀟湘典型)-style modern Palkyung uses 'NakAn(落雁)' as the name of Kyung. Sosangyusahyeong(瀟湘類似型)-style modern Palkyung expresses 'Hyojong(曉鐘)' and landscape of glow of the setting sun, sunset, night view, dawn, sunrise and depicts cloud, sunset, moon, and snow. There are many Myeongsocheheomhyeong(名所體驗型)-style Palkyungs exhibiting the behavior of tourism and Myeongseunghyeong(名勝型)-style Palkyungs raising the awareness only by the names of the places. Seventh, modern Palkyung's naming styles are diverse, such as using only four letters instead of specifying Kyungmul(景物) or Kyungsaek(景色) in combination with Chinese characters or adding modifiers specializing in places.

Toward a Social Sciences Methodology for Electronic Survey Research on the Internet or Personal Computer check (사회과학 연구에 있어 인터넷 및 상업용 통신망을 이용한 전자설문 조사방법의 활용)

  • Hong Yong-Gee;Lee Hong-Gee;Chae Su-Kyung
    • Management & Information Systems Review
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    • v.3
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    • pp.287-316
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    • 1999
  • Cyberspace permits us to more beyond traditional face-to-face, mail and telephone surveys, yet still to examine basic issues regarding the quality of data collection: sampling, questionnaire design, survey distribution, means of response, and database creation. This article address each of these issues by contrasting and comparing traditional survey methods(Paper-and-Pencil) with Internet or Personal Computer networks-mediated (Screen-and-Keyboard) survey methods also introduces researchers to this revolutionary and innovative tool and outlines a variety of practical methods for using the Internet or Personal Computer Networks. The revolution in telecommunications technology has fostered the rapid growth of the Internet all over the world. The Internet is a massive global network and comprising many national and international networks of interconnected computers. The Internet or Personal Computer Networks could be the comprehensive interactive tool that will facilitate the development of the skills. The Internet or Personal Computer Networks provides a virtual frontier to expand our access to information and to increase our knowledge and understanding of public opinion, political behavior, social trends and lifestyles through survey research. Comparable to other technological advancements, the Internet or Personal Computer Networks presents opportunities that will impact significantly on the process and quality of survey research now and in the twenty-first century. There are trade-offs between traditional and the Internet or Personal Computer Networks survey. The Internet or Personal Computer Networks is an important channel for obtaining information for target participants. The cost savings in time, efforts, and material were substantial. The use of the Internet or Personal Computer Networks survey tool will increase the quality of research environment. There are several limitations to the Internet or Personal Computer Network survey approach. It requires the researcher to be familiar with Internet navigation and E-mail, it is essential for this process. The use of Listserv and Newsgroup result in a biased sample of the population of corporate trainers. However, it is this group that participates in technology and is in the fore front of shaping the new organizations of interest, and therefore it consists of appropriate participants. If this survey method becomes popular and is too frequently used, potential respondents may become as annoyed with E-mail as the sometimes are with mail survey and junk mail. Being a member of the Listserv of Newsgroup may moderate that reaction. There is a need to determine efficient, effective ways for the researcher to strip identifiers from E-mail, so that respondents remain anonymous, while simultaneously blocking a respondent from responding to a particular survey instrument more than once. The optimum process would be on that is initiated by the researcher : simple, fast and inexpensive to administer and has credibility with respondents. This would protect the legitimacy of the sample and anonymity. Creating attractive Internet or Personal Computer Networks survey formats that build on the strengths of standardized structures but also capitalize on the dynamic and interactive capability of the medium. Without such innovations in survey design, it is difficult to imagine why potential survey respondents would use their time to answer questions. More must be done to create diverse and exciting ways of building an credibility between respondents and researchers on the Internet or Personal Computer Networks. We believe that the future of much exciting research is based in the Electronic survey research. The ability to communicate across distance, time, and national boundaries offers great possibilities for studying the ways in which technology and technological discourse are shaped. used, and disseminated ; the many recent doctoral dissertations that treat some aspect of electronic survey research testify to the increase focus on the Internet or Personal Computer Networks. Thus, scholars should begin a serious conversation about the methodological issues of conducting research In cyberspace. Of all the disciplines, Internet or Personal Computer Networks, emphasis on the relationship between technology and human communication, should take the lead in considering research in the cyberspace.

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